INTERMASSA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
INTERMASSA
Largest movements
- Cash -€11,311
down €11,311 (-18.4%), from €61,506 to €50,195
mainly Other debts (-€10,473) and Investment in fixed assets (net) (-€10,397)
- Receivables within one year +€10,079
up €10,079 (+28.6%), from €35,291 to €45,370
of which Trade receivables: +€11,256
- Reserves +€18,500
up €18,500 (+27.4%), from €67,500 to €86,000
- Other debts -€10,473
down €10,473 (-41.4%), from €25,279 to €14,806
- Tax, wage and social debts -€9,851
no longer reported in 2025 (was €9,851)
- Trade debts +€1,773
up €1,773 (+99.3%), from €1,785 to €3,558
- Gross operating margin -€2,354
down €2,354 (-5.4%), from €43,249 to €40,895
- Taxes -€1,522
down €1,522 (-14.2%), from €10,727 to €9,205
- Depreciation +€858
up €858 (+9.2%), from €9,286 to €10,143
- Other operating charges +€436
up €436 (+37.6%), from €1,159 to €1,595
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €106,330 | €105,352 | -€978 | -0.9% |
| Fixed assets | 21/28 | €9,533 | €9,787 | +€254 | +2.7% |
| Tangible fixed assets | 22/27 | €9,528 | €9,782 | +€254 | +2.7% |
| Plant, machinery and equipment | 23 | €291 | - | -€291 | |
| Furniture and vehicles | 24 | €9,237 | €9,782 | +€545 | +5.9% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €96,796 | €95,565 | -€1,231 | -1.3% |
| Amounts receivable within one year | 40/41 | €35,291 | €45,370 | +€10,079 | +28.6% |
| Trade receivables | 40 | €23,442 | €34,697 | +€11,256 | +48.0% |
| Other amounts receivable | 41 | €11,849 | €10,673 | -€1,176 | -9.9% |
| Cash at bank and in hand | 54/58 | €61,506 | €50,195 | -€11,311 | -18.4% |
| Total equity and liabilities | 10/49 | €106,330 | €105,352 | -€978 | -0.9% |
| Equity | 10/15 | €68,442 | €86,988 | +€18,546 | +27.1% |
| Reserves | 13 | €67,500 | €86,000 | +€18,500 | +27.4% |
| Distributable reserves | 133 | €67,500 | €86,000 | +€18,500 | +27.4% |
| Profit (loss) carried forward | 14 | €942 | €988 | +€46 | +4.9% |
| Amounts payable | 17/49 | €37,888 | €18,364 | -€19,524 | -51.5% |
| Amounts payable within one year | 42/48 | €37,888 | €18,364 | -€19,524 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €973 | - | -€973 | |
| Trade debts | 44 | €1,785 | €3,558 | +€1,773 | +99.3% |
| Suppliers | 440/4 | €1,785 | €3,558 | +€1,773 | +99.3% |
| Taxes, remuneration and social security | 45 | €9,851 | - | -€9,851 | |
| Taxes | 450/3 | €9,851 | - | -€9,851 | |
| Other amounts payable | 47/48 | €25,279 | €14,806 | -€10,473 | -41.4% |
| Remuneration, social security and pensions | 62 | - | €209 | +€209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,286 | €10,143 | +€858 | +9.2% |
| Other operating charges | 640/8 | €1,159 | €1,595 | +€436 | +37.6% |
| Non-recurring operating charges | 66A | - | €825 | +€825 | |
| Gross operating margin | 9900 | €43,249 | €40,895 | -€2,354 | -5.4% |
| Operating profit (loss) | 9901 | €32,804 | €28,123 | -€4,682 | -14.3% |
| Financial income | 75/76B | €254 | €3 | -€251 | -99.0% |
| Recurring financial income | 75 | €254 | €3 | -€251 | -99.0% |
| Financial charges | 65/66B | €531 | €375 | -€156 | -29.4% |
| Recurring financial charges | 65 | €531 | €375 | -€156 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €32,527 | €27,751 | -€4,777 | -14.7% |
| Income taxes | 67/77 | €10,727 | €9,205 | -€1,522 | -14.2% |
| Profit (loss) for the period | 9904 | €21,800 | €18,546 | -€3,254 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,800 | €18,546 | -€3,254 | -14.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.